Citi Downgrades Symantec (SYMC) to Neutral
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August 11, 2015 7:01 AM EDT
Q1 revenue flat Y/Y, adjusting for currency and an extra week in the
June 2014 quarter
Operating margin expansion of 480 bps Y/Y to 27.4%, adjusting for
currency impact
Signs definitive agreement to sell information management business for
$8 billion
Raises stock repurchase program to $2.6 billion and maintains dividend
at $0.15
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--
Symantec Corp. (NASDAQ: SYMC) today reported the results of its first
quarter of fiscal year 2016, ended July 3, 2015.
Michael... More
August 11, 2015 6:57 AM EDT
Symantec expects to receive approximately $6.3 billion in net cash
proceeds
Raises stock repurchase program to $2.6 billion and maintains dividend
at $0.15
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--
Symantec Corp. (NASDAQ: SYMC) today announced that it has entered into a
definitive agreement to sell its information management business, known
as Veritas, to an investor group led by The Carlyle Group together with
GIC, Singapores sovereign wealth fund, and other expected co-investors
for $8 billion in cash. The transaction, which was unanimously approved
by Symantec's Board... More
